SE Asia Stocks-Philippines recovers as real estate stocks bounce back

* Singapore falls on disappointing export data
* Indonesia edges higher; cenbank holds rate
By Shreya Mariam Job
Jan 17 (Reuters) - Most Southeast Asian stock markets rose
on Thursday with Philippines leading the gains, while Singapore
fell on disappointing December export data.
A bounce-back in real estate stocks helped the benchmark
Philippine index snap two straight sessions of declines
and close 0.8 percent higher.
SM Prime Holdings Inc rose 3.5 percent, following
the previous session's sharp fall on a report that one of its
reclamation projects may be shelved.
The company when contacted said it had a good case to get
the project, said Rachelle C Cruz, an analyst with AP
Securities.
She said SM Prime added it had been compliant with
government regulations and had received a provisional notice to
proceed with its plan.
"Whenever property companies as well as banks of these
conglomerates (holding companies) do well, the parent companies
also do well. Since they have sizable weight on the index, they
essentially guide the movement of the index. So whenever they
recover, the index also recovers," she said.
Meanwhile, foreign investors have invested a sizeable amount
in Indonesia and the Philippines, helping these markets start
the new year on a firm note.
(Link to Interactive Graphic - tmsnrt.rs/2HhBlWE)
"When the US dollar weakens, they (foreign investors) tend
to shift to emerging markets, also to take advantage of the
differential of interest rates," she said.
"In terms of GDP forecast for 2019, we expect to maintain a
strong growth especially for Vietnam, Indonesia and the
Philippines. That's why their indices tend to get more inflows
in the region."
Malaysian shares rose 0.6 percent, boosted by
consumer cyclicals. Genting Bhd added 6.2 percent,
while Petronas Chemicals Group Bhd gained 1.5 percent.
Indonesian shares closed marginally higher after the
central bank held interest rates and said the current level was
"near its peak".
Meanwhile, Singapore shares closed 0.5 percent lower
following an unexpected fall in December exports.
The city-state's exports recorded the worst decline in more
than two years in December, falling 8.5 percent compared to an
expectation of a 1.5 percent rise in a Reuters poll.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3214.44 3229.11 -0.45
Bangkok 1580.3 1577.41 0.18
Manila 7927.2 7864.7 0.79
Jakarta 6423.78 6413.36 0.16
Kuala Lumpur 1682.97 1673.08 0.59
Ho Chi Minh 901.89 908.7 -0.75
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3214.44 3068.76 4.75
Bangkok 1580.3 1563.88 1.05
Manila 7927.2 7,466.02 6.18
Jakarta 6423.78 6,194.50 3.70
Kuala Lumpur 1682.97 1690.58 -0.45
Ho Chi Minh 901.89 892.54 1.05
(Reporting by Shreya Mariam Job in Bengaluru; Editing by
Subhranshu Sahu)